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APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd

Painted Pony Petroleum Ltd · Apr 24, 2015 · 32 slides

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Slides

  1. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 1
    Corporate Presentation April 24, 2015 1
  2. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 2
    Growing a Premier Natural Gas Asset Focus on Montney Natural Gas in Northeast British Columbia: Successfully assembled, explored and de-risked a massive resource play 2.9 Tcfe (488 Mmboe) Proved Plus Probable Reserves(1) Moving…
  3. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 3
    Corporate Snapshot Financial TSX: PPY PPY is included in the TSX Composite Index 99.5 million Shares Outstanding(1) 107.6 million Fully Diluted Shares Outstanding (9.17 average strike price)(1) 5.68 - 14.75 52-Week Trading…
  4. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 4
    Corporate Snapshot Production, Reserves & Net Asset Value 94-G-2 94-G-1 94-H-4 94-G-2 94-H-4 13,665 boe/d Q4 2014 Average Production (93% natural gas) 47% increase over Q4 2014 Average Production of 9,312 boe/d 16,000 boe/d…
  5. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 5
    Impressive & Consistent Reserves Growth (R) 4.91 500 5 600 Probable 6 488 Proved MMboe 400 2P Reserves Per Share 4 Reserves Per Basic Share (boe/share) 500 5 164% compound annual growth in Reserves Per Basic Share…
  6. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 6
    Dec. 31, 2014 Canadian Natural Gas Reserves Cost of Supply 8,000 30% Increase in 2P Undeveloped 7,000 Reserves per well in 2014 Canadian Natural Gas 2P Resrves (Bcf) 6,000 5.1 times 2014 Proved + Probable Recycle Ratio…
  7. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 7
    Impressive & Consistent Production Growth(P) 40,000 boe/d Exit (5-Year 25,000 25,000 Model) 250 250 Gas Oil & NGL Production per Million Shares 23,000 boe/d 20,000 20,000 (5-Year 200 200 145% compound annual growth in…
  8. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 8
    Top Wells Among All Montney Operators 7 140 276 Painted Pony (6.2 MMcf/d) 6 120 2013-2014 Average Peak Month Rate (MMcf/d) 5 100 4 80 Well Count Average 3.1 MMcf/d 3 60 2 40 1 20 0 0 1 2 3 4 6…
  9. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 9
    The Montney Trend in Western Canada A Leading North American Gas Play Key Attributes Tight dolomitic siltstone reservoir Better reservoir than a shale 300 meters (1,000 ft.) thick 4x Thicker than the Marcellus Continuous…
  10. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 10
    Painted Ponys Montney Position Premium Assets Located in the Optimum Area Key Attributes Large contiguous land base with year-round access 217 Net sections (139,049 net acres) 2nd Largest position in northern Montney west of…
  11. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 11
    Substantially De-Risked Moving into Development Phase Alaska Highway 2015 Budget Blair 104 Estimated expenditures (millions) West Alliance 14.0 Gross and net wells planned to drill Blair Pipeline 5 miles 11.0 Gross and net…
  12. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 12
    Improved Performance Through Technology Open-Hole Ball-Drop Completions PPY-operated Ball-Drop Completions Ball-Drop vs. Perf. & Plug Completions a-A091-F (Ball-Drop) 7 100% a- 091-F ( Perf. & Plug) 90% 6 % Improvement 80% 26-L…
  13. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 13
    Improved Performance Through Technology Parallel-Pair Drilling 26-L (1) Region of Completion West 5-K (1) Enhancement Blair Blair 41-F (1) 300-350 m Inter-well Spacing 90-100 m Average 11-F (1) Fracture Stage Spacing 6-F…
  14. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 14
    Montney Production Curves Technology Drives Step-Change 9 Parallel-Pairs (8 Wells) 14 Bcf Type Well 8 Ball-Drop (20 Wells) 11 Bcf Type Well 7 10 Bcf Type Well (Blair-Daiber 5-year plan) Perf. & Plug (37 wells) Producing Rate…
  15. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 15
    Townsend Development Plan 2015 Program Development Program Economics 6.7 million (CDN) Drill, complete, and equip (2015 10%) 5.2 MMcf/d I.P.30 production rate 7 Bcf P+P reserves per well 420 Mbbl P+P reserves per well 60…
  16. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 16
    Blair-Daiber Development Plan 2015 Program Development Program Economics 6.7 million (CDN) Drill, complete, and equip (2015 10%) 7.0 MMcf/d I.P.30 production rate 10 Bcf P+P reserves per well 150 Mbbl P+P reserves per well 15…
  17. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 17
    Montney Development Economics Flat Price Sensitivities 90% Townsend (7 Bcf) Blair (10 Bcf) Blair (14 Bcf) 80% 85% 70% 60% 60% Rate of Return 50% 48% 48% 40% 40% 30% 34% 32% 20% 23% 21% 18% 10% 12% 0.3 4% 1.6…
  18. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 18
    5-Year Montney Development Model Processing Infrastructure Build-out Drives Growth 60,000 73% compound annual 360 2017 production growth (2015-2017) 50,000 2016 1st AltaGas Townsend 300 Production (MMcfe/d) and Cumulative Well…
  19. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 19
    3-Year Montney Development Model Cash Flow Growth 450 Cash Flow and CAPEX ( millions) 435 435 435 Cash Flow 400 CAPEX 350 300 287 287 287 297 250 252 200 208 150 124 100 104 104 105 104 85 76 50 65 55 0…
  20. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 20
    Deal with People You Trust Strategic Alliance with AltaGas - Marketing Opportunities AltaGas becomes PPYs Primary Natural Gas and NGL Marketer Liquids-Rich Natural Gas Processing Provides for the development of essential…
  21. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 21
    Painted Pony AltaGas Strategic Alliance Key Facilities Townsend Liquids-Rich Gas Processing Alaska Highway New Townsend Facility: Major new shallow-cut facility 198 MMcf/d gross capacity West Blair Alliance Pipeline PPY has…
  22. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 22
    Proposed West Coast LNG Projects A Long Call Option for PPY Gas Selected Export Canadian LNG Projects Capacity British Fort Nelson Proposed Shell LNG Canada TransCanada Columbia Petronas In-service 2019 3.2 Bcf/d Proposed PPY…
  23. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 23
    The Best Pony in the Race Premier Montney Asset Base Large, contiguous land position with year-round access, located 100% in B.C. High working interest with operatorship High-rate, liquids-rich, sweet natural gas wells Proven low…
  24. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 24
    Appendices & Disclosures 24
  25. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 25
    5-Year Montney Development Model Processing Infrastructure Build-out Drives Growth 120,000 700 2019 2nd AltaGas Townsend Plant (48 MMcf/d) 2018 57% compound annual 100,000 production growth (2015-2019) 600 2017 Production…
  26. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 26
    5-Year Montney Development Model Cash Flow Growth 700 Cash Flow 647 647 647 CAPEX 600 Cash Flow and CAPEX ( millions) 590 Free Cash Flow 523 523 523 500 495 435 435 435 400 416 400 348 300 287 287 287 297 280…
  27. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 27
    Analyst Coverage Institution Analyst AltaCorp Capital Jeremy McCrea Canaccord Genuity Corp. Anthony Petrucci CIBC World Markets Adam Gill Cormark Securities Inc. Garett Ursu Credit Suisse Securities David Phung FirstEnergy…
  28. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 28
    Montney - The Canadian Marcellus Similar Play Area - But 4x Thicker with Better Initial Declines Montney Fairway Proposed West Coast The Marcellus: A true shale reservoir. LNG Export Sites Western Canada 70 meters (up to 225 ft)…
  29. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 29
    Strategic Alliance with AltaGas AltaGas Corporate Profile Calgary-headquartered, Canadian natural gas mid-streamer Currently processing more than 2 Bcf/d natural gas and 70,000 bbls/d NGL Owns over 1,100 km of gas and NGL…
  30. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 30
    Strategic Alliance with AltaGas Marketing Opportunities AltaGas becomes PPYs Primary Natural Gas and NGL Marketer Market-Competitive Product Pricing AltaGas commits to seeking transactions at sales prices greater than comparable…
  31. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 31
    Canadas Proposed West Coast LNG Projects Chevron Approved Pipeline 42 31
  32. APRI 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 32
    PPY Corporate Overview Auditor KPMG LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Banks National Bank of Canada Alberta Treasury Branch Canadian Imperial Bank of Commerce The Bank of Nova Scotia Corporate Office…

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